On Tuesday the House passed the Republican Tax Plan by a 227-203 margin. Politico Tax Reporter Aaron Lorenzo explains the path forward for this legislation in the Senate, and how individuals and corporations will be impacted.
Lorenzo says he expects the GOP plan to pass the Senate, and signed by President Trump before the end of the year. The bill is a $1.5 Trillion tax cut which nearly doubles standard deduction, and cuts the corporate tax rate from 35 percent to 21 percent. Lorenzo says he expect retail to be a big winner, because they do not face a big margin.
According to a recent Gallup Poll, more than half of Americans say the proposed tax cuts would not help their families financial situation, and would not help the U.S. economy.
man accused of killing eight people, most of them women of Asian descent, at massage businesses in Georgia pleaded guilty to four of the murders.
The Centers for Disease Control and Prevention is reversing course on some masking guidelines. The agency announced new recommendations Tuesday that even vaccinated people should return to wearing masks indoors in parts of the U.S.
Four officers who defended the Capitol during the Jan. 6 insurrection are giving emotional and angry accounts of the attack.
Vaccine Mandates, Osaka Out & LeVar Burton Takes Jeopardy!
New York City will require all municipal workers to get coronavirus vaccines by mid-September or face weekly COVID-19 testing.
President Joe Biden and Iraqi Prime Minister Mustafa al-Kadhimi are set to announce that they’ve come to an agreement to end the U.S. military’s combat mission in Iraq by the end of the year.
Team USA's Uneven Start, Optimism Plummets & 'Old' Stuns Box Office
The flame at Tokyo’s National Stadium and another cauldron burning along the waterfront near Tokyo Bay throughout the games will be sustained in part by hydrogen, the first time the clean fuel source will be used to power an Olympic fire.
Australia has garnered enough international support to defer for two years an attempt by the United Nations’ cultural organization to downgrade the Great Barrier Reef’s World Heritage status because of damage caused by climate change.
The number of Americans seeking unemployment benefits rose last week from the lowest point of the pandemic, even as the job market appears to be rebounding on the strength of a reopened economy
